BAEB601 Chapter 2: Research Types, Objectives and Problem Statement

BAEB601

School of Marketing and Entrepreneurship (SoME)FACULTY OF BUSINESS AND MANAGEMENT

PREPARED BY:Nur Suhaili Ramli

CHAPTER 2

RESEARCH METHODOLOGY

Research Types, Objectives, Problem Statement

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CHAPTER 2: PROBLEM STATEMENT. RESEARCH TYPES, OBJECTIVES

Topics

This chapter aims to:

1.Define the importance of research as a management decision-making tool;2.Define research3.Differentiate between basic and applied research;4.Define meaning of theory5.Discuss the term concept, proposition, variables and hypothesis;6.Classify research as exploratory research, descriptive research and causal

research.7.List the stages in the business research process

Chapter Aims

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Problem Statement

Identify the scenarios

Issues that lead to the formulation of the problem statement

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Process of Problem Definition

Ascertain the decision maker’s

objectives

Understand the background of

the problem

Isolate and identify the

problem, not the symptoms.

Determine the unit of analysis

Determine the relevant variables

State the research

questions and research

objectives

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Ascertain the decision maker’s objectives

MUST attempt to satisfy the decision maker’s objectives

MUST have a clear understanding of

the purpose of undertaking the

research.

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Understand the background of the problem

The background

of the problem is

vitalA situation analysis is the logical first step in

defining problemAnalysis

involve the informal

gathering of background information

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Isolate and identify the problem, not the symptoms

Anticipating the many influences and

dimensions of a problem is impossible

for any researcher.

Certain occurrences that appear to be the problem may only be

symptoms of a deeper problem.

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Determine the unit of analysis

MUST specify the unit of analysis

Will the individual consumer be the source

of information?

Industries, organization,

departments or individual may be the focus data collection

and analysis.

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Determine the relevant variables

A variable is a quality that can exhibit

differences in value, usually magnitude or

strength

In statistical analysis, a variable is identified by a

symbol such as X, Y.

A category or classificatory variable

has a limited number of distinct variables

Example: Gender – Male or Female, Age – 20’s, 30’sIncome – Low, Middle, High

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State the research questions and research objectives

The research question is the researcher’s translation of the business problem into a specific need for inquiry.

Clarity in Research Questions and Hypotheses Decision-Oriented research objective.

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Problem Statement : Activity

Evaluate the statement of the business problem in following situations:

1. A farm implement manufacturer: Our objective is to learn the most effective form of capitalization so we can maximize profits.

2. The producer of a television show: We have a problem; the program’s rating are low. We need to learn how to improve our rating.

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Clarity in Research Questions and Hypotheses

Research question should be specific, clear, and accompanied by a well formulated hypothesis.

Hypothesis is an unproven proposition or possible solution to a problem. In its simplest form, a hypothesis is a guess!

Problem and Hypothesis are similar. Both state relationship. BUT Problems are interrogative, Hypotheses are declarative

and more specific to testing.

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Research Objective

Research objective is the researcher’s version of the business problem.

Research objective is derived from the problem definition.

Research objective explain the purpose of research in measureable terms as well as

defining what standard the research should accomplish.

Research objective should be limited to a manageable number so that each one can be

addressed fully.

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Types of Business Research

Completely Uncertainty Absolute Certain Ambiguity

Causal or Descriptive Exploratory

Decisions are not all same: A continuum of decision making

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Types of Business Research

Exploratory research

Descriptive research

Causal research

Conducted to classify the nature problems. It is not intended to provide conclusive evidence from which a particular course of action can be determined.

Conducted to discover and determine the characteristics of a population. It Seeks o determine to answer “Who”, “What”, “When”,”Where” and “How”.Conducted accurately because the Evidence it provides will be used to determine a course of action.

To identify cause-and effect relationship between variables. Causal researchAttempts to establish that when we doOne thing (increase advertising), anotherWill follow (increased sales)

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Research Proposal

The research proposal is a

written statement of the research

design..

explains

Purpose of the study

Define s the problem

Outlines the research methodology

Details the procedures to be followed

State all costs and deadlines

Proposal should be precise, specific and

concrete

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Activity

For each of the situations below, decide whether the research should be exploratory , descriptive or causal?

1) Establishing the functional relationship between advertising and sales.

2) Investigating reactions to the idea of a new method of defense budgeting

3) Identifying target market demographics for a shopping centre

4) Estimating prices for IBM stock two years in the future.5) Learning how many organizations are actively involved in

just in time production.6) Learning the extent of job satisfaction in a company.

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Flowchart of the Research Process

Flowchart of the Research Process Refer to the diagram given

BAEB601 Chapter 2: Research Types, Objectives and Problem Statement

Technology

Transcript of BAEB601 Chapter 2: Research Types, Objectives and Problem Statement